RTW Biotech, an investment fund, offered to acquire Arix Bioscience, a global venture capital firm that invests in biotechnology firms, for £185m. "Acquiring Arix's complementary life science assets is a step-change accelerator to our vision for RTW Bio to be a UK-listed fund with meaningful scale that invests in innovative life science businesses in the UK and globally. The scale that this transaction creates could not be better timed with the unprecedented life science market conditions, the accelerating medical innovation, industry trends that play into RTW's core strengths. This transaction creates value and opportunity for both RTW Bio and Arix shareholders and positions all shareholders for future upside," Roderick Wong, RTW Managing Partner and CEO.